Matt Hancock says he will stand for Tory leadership

Prime Minister Theresa May leaves Downing Street on Thursday

Prime Minister Theresa May leaves Downing Street on Thursday Credit Julian Simmons

British Prime Minister Theresa May has fired the starting gun on a Tory leadership race after she announces her departure as Prime Minister.

He added: "The first three businesses I set up failed so I know what it's like to have a business that isn't working out, not to be able to pay your employees their salary at the end of the month, to realise that your products aren't selling". "The way to get a good deal is to prepare for a no deal". See PA story POLITICS Brexit.

"We can never take no-deal off the table but the best way of avoiding it is to make sure you have someone who is capable of negotiating a deal".

"It now seems that (Johnson) is coming out for a no-deal Brexit", Stewart told BBC radio. "Damaging, unnecessary, and I think also dishonest".

Boris Johnson is the clear favorite with bookmakers and he has also said Britain should be prepared to exit the bloc without any deal if no acceptable agreement could be reached. Favored by 9 percent, the former Education secretary and stalwart right-winger is blamed by many for betraying Johnson in the leadership contest of 2016 and thus putting May in power.

The star name will not always be the best choice.

She agreed with chairman of the Tory backbench 1922 Committee, Sir Graham Brady, that the process to choose a new leader should begin the week after she stands down. French President Emmanuel Macron praised May's "courageous work" and U.S. President Donald Trump said he felt bad for her.

He told the Press Association: "I have been approached by a number of colleagues across the party both inside and outside Parliament asking me to put myself forward as a candidate". I don't think it's now Boris's to lose.

Raab earned his stripes on the right by resigning as Brexit secretary last November to protest May's compromise package on leaving the EU.

"The fight for the heart and soul of the Conservative Party officially starts now", said Andrew Bridgen, a pro-Brexit lawmaker.

"This idea that a new prime minister will be a tougher negotiator and will put it up to the European Union and get a much better deal for Britain?"

"Because we believe any incoming prime minister in these circumstance should go to the country anyway and seek a mandate".

International Trade Secretary Liam Fox has refused to rule himself out as a Tory leadership candidate.

He has already confirmed he will stand, telling a business event "of course I'm going to go for it".

Concluding her resignation statement, Mrs May broke down as she said it had been "the honour of my life" to serve "the country that I love".

"It is very important that whoever takes this on looks for a solution and tries to work to find where the majority of the House (of Commons) is".

The Daily Express noted in this regard that May could become the first former UK Prime Minister to take a House of Lords seat since Margaret Thatcher, given that John Major, Tony Blair, Gordon Brown and David Cameron "all indicated in advance that they did not want the honour".Convention stipulates that the UK's incoming Prime Ministers are allowed to grant their immediate predecessors a peerage.

Brexit is set to dominate the contest which will begin in the week of June 10 when Conservative lawmakers begin to whittle down the field before party members, about 160,000 according to the Sunday Telegraph, choose the victor from the final two candidates.

Tory party members will then decide who wins the run-off.

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